Price Changes

27 03 2013

I’m about to change the price on many of my items: some up, some down. As I mentioned in a previous post, I have new formulas for calculating prices. I’m adjusting my prices using the new formulas.

I hesitate to change prices because price changes can confuse buyers and reduce the likelihood of purchases. On the other hand, I don’t have a lot of online sales, so maybe this won’t be a problem.

The new prices are based on the following per-gram rates:

  • base materials: $1.67 / gram
  • sterling silver: $5.62 / gram
  • gold fill: $6.88 / gram

I’m eager to see what effect this has, if any, on sales.

I’m also eager to find ways to reduce labor time, which can be pretty substantial. For base materials (silver plate, brass, copper, etc.), the per-hour amount I earn will be quite low, certainly lower than I like. The per-hour rate for sterling and gold-fill is better, but not overly exciting.

Over time, I’ll have to see whether I wish to keep making jewelry in the lower-cost materials. I may have to move entirely to sterling silver (or better) materials, just to make it worth my time. We’ll see….

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